Markets & Finance

Treasuries Close Lower

November 04, 2004

Bond prices plunged during Friday's session in reaction to fresh employment numbers. The nonfarm payroll numbers showed an increase of 337,000 in October, and the market quickly reacted, fearing Fed rate hikes in November and December. Treasuries were further pushed down after investors rushed to equities. The yield on the 10-year Treasury (which moves up as bond prices move down) reached an intraday-high close to 4.25% but closed at 4.19%.